Bloomberg Surveillance · Wednesday, July 15, 2026
An analyst believes the market is in a structural uptrend, suggesting investors should buy dips and maintain a diversified portfolio with an overweight on the U.S. They recommend holding large growth and large value stocks, not shying away from small caps, and being underweight on Europe.
“So I don't know that it's frothy yet, Tom, I really don't. I think what you've seen is that while the multiple has moved up, right, we're trading at twenty two twenty one times multiples on a long term average six long the earnings have supported it, and so I you know, from our perspective, you start with are you in a secular bull market? We just wrote a piece about this. Are you in a scenario where you're in a structural up trend and earnings and multiples. We think the answer to that is yes, and that means you're going to want to buy dips. So what does that mean? I think growth and value are less of a meaningful distinction than they used to be, particularly after some of this reconstitution, you know, business from from the likes of the index providers, I think you want to be diversified, but overweight the US. You want to have large growth, you want to have large value. You should not shy away from small caps. And I think em also represents some opportunities. We'd be underweight Europe. They are just struggling on everything.”